Adler Group Sa · XETR:ADJ
Adler Group Sa — ADO Properties — Q1 2018 Earnings Presentation
18 slides from Adler Group Sa's earnings presentation, May 16, 2018
Slide 1: Financial Results Q1 2018
FINANCIAL RESULTS Q1 2018 May 16, 2018
Slide 2: Overview & Investment Highlights
OVERVIEW & INVESTMENT HIGHLIGHTS Chapter 01 Kapitel Titel
Slide 3: ADO – The Pure Play Berlin Residential Specialist
ADO – THE PURE PLAY BERLIN RESIDENTIAL SPECIALIST Investment highlights A focuses 1 Berlin residential pure play with a EUR 3.4bn quality portfolio residential portfolio2,3… Efficient, fully integrated and scalable platform with clear strategy to 2 create value. This unique platform enables in-depth
Slide 4: Highlights Q1 2018
HIGHLIGHTS Q1 2018 Financials Q1 2018 2017 • Strong growth continues with income from rental activities increased by 24% compared to Q1 2017 Income from rental activities 31.3m EUR 109.2m • 228 units added in Q1 2018 with 232 further units EBITDA from rental activities 22.5m EUR 77.1m signed since r
Slide 5: ADO Portfolio & Strategy
ADO PORTFOLIO & STRATEGY Chapter 02 Kapitel Titel
Slide 6: Balanced, High-Quality Portfolio Focused on Berlin
BALANCED, HIGH-QUALITY PORTFOLIO FOCUSED ON BERLIN High-quality turn-of-the-century …with attractive rents... …and low number of remaining restrictions buildings… 657 659 # of units to be 34% released from rent 38% restrictions 25% 23% 20% 12% 207 11% 7% 8% 7% 7% 116 4% 4% 86 29 7 19 1919- 1950- 196
Slide 7: Further Units Acquired
FURTHER UNITS ACQUIRED 232 units acquired in 2 transactions since reporting Q4 2017 • EUR 50m of gross asset value (including transaction costs) acquired in 2 transactions mixing asset and share deals • 11 buildings in total, of which 1 is in Central Locations, 6 in the S-Bahn Ring and 4 in the City
Slide 8: Strong Like-for-Like Growth and Stable Vacancies
STRONG LIKE-FOR-LIKE GROWTH AND STABLE VACANCIES Continuously strong l-f-l results of 4.9% in Q1 2018 Vacancy split 6.0% 4.0% 5.3% / 4.8% 5.3% / 4.9%* 3.6% 3.5% 6.0% 3.3% 3.5% 0.3% 0.2% Guidance: 5.0% 0.3% 2.7% 3.0% 2.7% 2.7% 2.7% 2.6% 2.5% 0.3% 0.3% From modernization CAPEX 2.2% From fluctuation w/
Slide 9: Privatization Activities on Target
PRIVATIZATION ACTIVITIES ON TARGET Privatization results and outlook Sales profit – avg. sales price vs. portfolio value • 17 units sold in Q1 2018 for gross proceeds of EUR 3.7m, Q1 2018 generating 29.6% value uplift compared to average book value of Central Locations +29.6% • Our acquisitions allo
Slide 10: Financial Overview
FINANCIAL OVERVIEW Chapter 03 Kapitel Titel
Slide 11: Overview of Balance Sheet
OVERVIEW OF BALANCE SHEET In EUR m Mar 31, 2018 Dec 31, 2017 Comments (Unaudited) (Audited) Investment properties 1 3,366 3,306 1 Total portfolio value of EUR 3,366m as at Other non-current assets 9 8 March 31, 2018 includes investment properties (EUR Non-current assets 3,375 3,314 3,313m) and tradi
Slide 12: Solid Balance Sheet with Fixed Rate Financing
SOLID BALANCE SHEET WITH FIXED RATE FINANCING Key financing figures Diversified funding profile with weighted average debt maturity of approx. 5.2 years • Total debt of EUR 1,420m, almost completely fixed or hedged (EUR m) 1.7% • Diversified funding sources with flexible access to the 600 537 1.8% b
Slide 13: Overview of Profit and Loss
OVERVIEW OF PROFIT AND LOSS In EUR m Q1 2018 Q1 2017 Year 2017 Comments Net rental income 29.8 24.0 103.3 1 Income from rental activities increased by 24% driven by Income from facility services 1.5 1.3 5.9 l-f-l rental growth of 4.9% and acquisitions. Q1 reflects Income from rental activities 1 31.
Slide 14: Overview of FFO
OVERVIEW OF FFO In EUR m Q1 2018 Q1 2017 Year 2017 Comments EBITDA from rental activities 1 22.5 18.0 77.1 1 EBITDA from rental activities increased by more than 25% Net cash interest (6.4) (4.8) (21.7) due to our strong 4.9% like-for-like rental growth and Current income taxes (0.2) (0.1) (1.0) suc
Slide 15: Guidance 2018
GUIDANCE 2018 1 We anticipate like-for-like rental growth going forward at approximately 5%. This should positively impact portfolio value, EPRA NAV and EPRA NAV per share 2 We expect our FFO 1 run rate to be at least EUR 66m after closing all signed transactions based on the long-term financing str
Slide 16: Financial Calendar
FINANCIAL CALENDAR June 18, 2018 June 19, 2018 Annual Ex-Dividend General Date Meeting June 19, 2018 June 20, 2018 Dividend Dividend Record Payment Date Date August 15, 2018 November 14, 2018 Chapter 04 Publication Publication Kapitel Titel Q2/2018 Q3/2018 Financial Report Financial Report 16
Slide 17: Berlin property photos
Hakenfelder Straße Hermannstraße / Selchower Straße Spandau Neukölln Kottbusser Damm / Lenaustraße Großbeerenstraße / Obentrautstraße Kreuzberg Kreuzberg 17
Slide 18: Imprint
IMPRINT Chapter 03 ADO Properties S.A. Investor Relations Kapitel Titel Aerogolf Center T +352 26 493 412 1B Heienhaff F +352 27 860 722 L-1736 Senningerberg Grand Duchy of Luxembourg M [email protected] W www.ado.properties